Loan Servicing

Federal Home Loans Corporation (FHLC) offers a comprehensive nationwide Trust Deed Loan Servicing solution. We service individual trust deed/mortgage loans of any size for brokers, lenders, institutions and private investors. Additionally, our loan servicing program allows us to service fractionalized loans with ease. All computations are computer-driven, and we strive for the highest degree of accuracy.

Primary Servicing (FHLC is the loan servicer)
Sub-servicing (broker earns a servicing fee)
Private Label Servicing
Interim Servicing
Residential Loans
Commercial Real Estate
Manufactured Homes
Land
Any debt requiring payments over time

Account and payment processing is set up as soon as a complete loan servicing package is received. The account and payment processing of the program includes:

Borrower Welcome Letter
Borrower Monthly Statement (with payment coupon)
Lender Welcome Letter
Lender Monthly Statement
Same Day Payment Posting
Tri-monthly Disbursement of Funds (after clearing)
Electronic Deposit of Funds (ACH) into investor’s account
Payoff Demands
Rush Demands
Disbursements and Draws
Releases and Reconveyances
IRS 1098 and 1099-INT Reporting
Online Secure Account Access for brokers and investors, with downloadable reports

Basic Collection begins when the borrower payment is ten days past due. This includes:

Late Notice sent at ten days delinquent
Foreclosure Notice sent at 31 days delinquent
Act as Intermediary between Investor and Borrower

FHLC strives to avoid foreclosure whenever possible. However, when necessary, we handle the Default Servicing on all loans serviced, which includes:

Declaration of Compliance
Specific thirty-day Notice of Intent letters
Legal services coordination including bankruptcy relief and eviction
REO management and property sale services available